Fintech Company in Dubai Acquired by Egyptian Firm

SmartCrowd, a Dubai-based property fintech specializing in fractional ownership, has been acquired by Egypt's Nawy. This strategic move comes as digital property investment methods gain traction in the GCC region. SmartCrowd's platform enables individual investors to own portions of properties, a trend also seen in Dubai through tokenized investments.

SmartCrowd, established in 2018, was a pioneer in fractional ownership in Dubai, managing $110 million in property transactions and distributing $40 million in rental income and capital gains. The company has successfully exited over 50 properties. One of its offerings, "Flip," focuses on acquiring, renovating, and reselling undervalued assets, achieving an average 30% return on investment within 15 months.

For Nawy, this acquisition strengthens its position as a proptech leader in the Middle East and Africa, following a recent $52 million Series A funding round. Nawy plans to utilize the funds to expand its real estate services, including digital property listings, mortgage financing, brokerage services, and fractional ownership. Nawy, with over 1 million monthly users and $3 billion in gross merchandise value, aims to become a comprehensive property "super-app."